Corporate Real Estate Management in Singapore: A Business Management Perspective

Tay, Linda; Liow, Kim Hiang

doi:10.3846/1648715x.2006.9637547

Cited by 14 publications

(23 citation statements)

References 27 publications

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“…In addition, the disposal or collateralisation of ownership can help secure liquidity, especially in uncertain structural changing times. Regardless of which advantages or disadvantages prevail, the far-sighted planning already described as a key element for CREM by Tay and Liow (2006) gains even more importance. This leads to the assumption that countries with average CRE ownership ratios in international comparison are suitable as test laboratories to observe an increase or decrease of ownership.…”

Section: Introductionmentioning

confidence: 99%

The Impact of Structural Changes on Corporate Real Estate Ownership: Evidence From Germany

Seger

Pfnür

2020

International Journal of Strategic Property Management

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Although real estate resources represent a high percentage of the corporate assets of non-property companies, their future role is unclear. Longevity and difficulty in revising property-related decisions clash under dynamically changing environmental conditions. This makes it necessary to consider the ownership strategy and its altering role in order to avoid inefficiencies and not to hinder companies in mastering structural change successfully. In a first step, data from a telephone company survey (CATI) among 69 corporate real estate managers of German companies are grouped by performing a two-step cluster analysis according to the degree to which they are affected by structural change. The resulting clusters are then tested regarding differences in their ownership strategy. The empirical analysis shows that firms highly affected by structural change exhibit a higher willingness to decrease the proportion of ownership. The decline in real estate assets is particularly evident in the office segment and in increased acceptance of sale-and-rent-back solutions. First hints show that structural change and associated new business requirements change the relevance of CRE ownership. To avoid competitive disadvantages, especially European firms should scrutinize their high ownership ratios.

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Section: Introductionmentioning

confidence: 99%

The Impact of Structural Changes on Corporate Real Estate Ownership: Evidence From Germany

Seger

Pfnür

2020

International Journal of Strategic Property Management

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“…This is explained as a result of improved employee skills (Harris and Cooke, 2014;McDonagh, 2008) and by the increased number of formal, established CRE strategies. Many papers also noticed that the pace of the professional development has not been the same among the corporations: there are corporations in all development stages (McDonagh, 2008) JCRE and in general European and US corporations are found to be ahead of the Asian organisations (Tay and Liow, 2006).…”

Section: Development In Positioning Real Estate In Corporations In Comentioning

confidence: 99%

Identification of changed paradigms in CRE research – a systematic literature review 2005-2015

Jylhä

Remøy

Arkesteijn

2019

JCRE

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Purpose-As corporations change their way of working, the importance of corporate real estate (CRE) management has increased. Hence, there is a need to structure the existing knowledge and to identify the latest developments in CRE research. This paper aims to identify the major developments and changed paradigms in CRE research in 2005-2015. Design/methodology/approach-A systematic literature review is conducted, including papers from seven journals. In three sequential scans, papers were identified for the final analysis, keeping 99 of 1,667 papers. Findings-Based on nine identified developments, two paradigm shifts were found. The shift from cost minimisation to value delivery was identified. Besides solving current problems, value delivery aims to capture the future value and prevent future problems. The second paradigm shift is from buildings to people. Before the shift, buildings refer to value delivery as a transaction, while the shift to people highlights the aim to provide value-in-use. Research limitations/implications-This paper focusses on corporate offices, excluding retail, health care, education, publicly owned facilities, etc. This research is limited to CRE research. Therefore, the results are applicable to CRE research but do not cover the developments in practice. Practical implications-For practitioners, this paper offers a possibility to develop their RE strategies by reflecting their current practices with the identified developments and paradigms in the CRE literature. This paper suggests to conduct a similar research in practice to compare the underlying paradigms. Originality/value-This paper is based on a systematic literature study, and summarises developments in CRE research over the past 10 years.

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“…Third, an organizational structure that gives adequate authority for the implementation of the CRE policy is also needed. It provides information and direction about who, where and how decisions related to CRE are made within the organization (Tay and Liow, 2006;Van der Beemt-Tjeerdsma and Veuger, 2016). For the strategic role of CRE and its managers to be adequately recognized, the CRE function must be clearly shown on the organizational structure with the CRE manager close to senior management and other functional managers (CoreNet Global, 2015 Langford andHaynes, 2015;Jones Lang LaSalle, 2015).…”

Section: Essentials For Strategic Corporate Real Estate Management (Screm)mentioning

confidence: 99%

“…The fourth requirement for SCREM is a CRE-enabling system. This includes CRE budgetary allocation, workplace standards guides, real estate helpdesks, information management systems and logistics for effective CRE management (Acoba and Foster, 2003;Then, 2005;Tay and Liow, 2006). A fully automated CRE unit ensures a well-integrated information management system for decision making, and better performance of CRE and other organizational functions (CoreNet Global, 2015, Jones Lang LaSalle, 2015.…”

Section: Essentials For Strategic Corporate Real Estate Management (Screm)mentioning

confidence: 99%

“…This will ensure that all functional strategies, including CRE, are properly aligned and included in the corporate strategy. This means that there must be CRE strategic direction (Heywood and Kenley, 2013;Omar and Heywood, 2014), a well formulated CRE policy, a well-structured CRE management unit with adequate organizational power, a CRE-educated organizational culture (Goldman et al, 2015;CoreNet Global, 2015) and enabling systems (Acoba and Foster, 2003;Tay and Liow, 2006;Omar and Heywood, 2010).…”

Section: Conceptual Model For Strategic Corporate Real Estate Management (Screm)mentioning

confidence: 99%

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Strategic corporate real estate management practice in Ghana

Boakye-Agyeman

Bugri

2019

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Purpose The success of every business depends to a large extent on its corporate real estate (CRE), given that, it is the physical assets that support its operations. To achieve this success, organizations must adopt a strategic approach to CRE management. The purpose of this paper is to examine the extent of adoption of strategic corporate real estate management (SCREM) practice in Ghana based on the views of CRE managers. Design/methodology/approach The embedded mixed method approach was adopted for the study. In total, 72 CRE managers were selected from 35 institutions in 5 sectors (tertiary education, health, banking, security and service industry) where real estate is a requirement for accreditation using a multi-stage sampling technique. Findings An analysis of the existing practices underpinning SCREM in Ghana showed that SCREM has not been adopted completely in Ghanaian institutions. No organization has a complete systematic structure in place for SCREM as the practice is evolving. This finding correlates the global trend that CRE is not strategically managed like other corporate resources. Practical implications Current SCREM practices in Ghana, as divulged by this research, provide useful insight into the current status quo of SCREM and what must be done to ensure that CRE achieves its attribute of value adding. Originality/value The paper outlines the elements of SCREM practice, adding to the limited literature on the practice in Ghana and worldwide. It also sets the stage for further research in SCREM practice and CRE performance.

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Corporate Real Estate Management in Singapore: A Business Management Perspective

Cited by 14 publications

References 27 publications

The Impact of Structural Changes on Corporate Real Estate Ownership: Evidence From Germany

The Impact of Structural Changes on Corporate Real Estate Ownership: Evidence From Germany

Identification of changed paradigms in CRE research – a systematic literature review 2005-2015

Strategic corporate real estate management practice in Ghana

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